STATE BUDGET

Oklahoma’s fiscal year begins on July 1 and ends on June 30 in the following year.  State agencies submit their budget requests to the governor by October 1.   The governor submits the proposed budget to the state legislature in February.  The legislature typically adopts a budget in May.  The governor is constitutionally required to submit a balanced budget proposal, and the legislature is required to pass a balanced budget.

STATE LEGISLATURE

There are 101 members of the State House of Representatives, each serving a two-year term, and 48 state senators, who serve staggered four-year terms.  Regular legislative sessions begin at twelve o’clock noon on the first Monday in February of each year and end not later than five o’clock p.m. on the last Friday in May of each year.

KEY RESOURCES

• Oklahoma Legislature
• Office of the Oklahoma Attorney General
• Oklahoma Governor
• Information on Healthcare Policy in Oklahoma

2025 LEGISLATIVE SUMMARY

Oklahoma passed SB789, which requires entities conducting pharmacy audits to use drug purchase records to validate the dispensing of a prescription drug or a controlled dangerous substance without date limitations. It also requires PBMs to provide notice to contracted providers of lease arrangements, payment or rejections, and reimbursement identification information. Finally, the act prohibits “effective rate contracting” where PBMs establish drug reimbursement rates based on fluctuating effective payment rates. The state also passed SB889 which requires hospitals to publicly publish disclosures of detailed pricing information online and update annually. The State Health Department is authorized to monitor compliance.